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SHCI Softens; SZCI, ChiNext Index Up 0.5%-0.9%

 The OECD trimmed global GDP growth forecast by 0.3 ppts for this year and next. However, it maintained the growth forecast of China at 6.5%/ 6.2% in 2016/17. In addition, the People's Bank of China (PBOC) today will carry out RMB10 billion reverse repos, with a term of seven days. 

Shanghai and Shenzhen stock markets traded mixed. Shanghai Composite Index continued lower 0.1% to end the day trading at 2,860, dragged by heavily weighted banking, Chinese real estate and oil stocks. Shenzhen Component Index bounced back nearly 0.5% to 10,162 at close. CSI 300 Index finished the day at 3,051, down 2 pts. Shenzhen Stock Exchange A/B Share Index and the ChiNext Index gained 0.5%-0.9%. Market turnover of Shanghai and Shenzhen bourses fell to RMB178.4 billion and RMB302.9 billion. 

For the whole week, Shanghai Composite Index and Shenzhen Component Index saw a cumulative gain of 3.5% and 5% respectively. 

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